Vick was set to make about $16 million this season as a franchise player. His cap number goes down to about $14.4 million for this season, according to the Inquirer.

The Eagles had until mid-September to ink Vick long term.

Head coach Andy Reid is happy to have Vick in the nest for foreseeable future:

"I'm very happy we were able to reach an agreement with Michael on this long-term contract. It's a product of all the hard work Michael has done to better himself over the last couple of years, both on and off the field. I'm very proud that he has been able to achieve success again in this league, but he'll be the first one to tell you that there is a lot of work yet to be done by him and this team as a whole. And there's no doubt in my mind that he will continue on that path. I give a lot of credit to Joe Banner and Joel Segal for getting this deal done."

Vick was once the highest paid player in football after signing a 10-year, $130-million deal with the Falcons seven years ago. But after he was found guilty of dogfighting Vick lost that deal and millions in endorsements.